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"It's more direct liability in the sense that it fundamentally changed the financial performance of HealthSouth, whereas mischaracterization of Ernst & Young's fees would not," he said.
But avoiding this direct liability may be of little help for the banking industry as a whole, since when SIVs cannot get funding, they are forced to sell assets.
Referring to the 2007 safety survey and their own failure to act upon it, Mr. O'Kane wrote, "I am concerned that electrical issues were identified; lack of action with regard to any correction action, or increased surveillance, results in direct liability issues for our agency as well as individuals who were briefed regarding this finding".
"We contend that the trustee has direct liability on the theory that even though they were not sitting at the loan closing table, they were involved in the securitization and profited from it," said Sarah E. Bolling, a lawyer in the Home Defense Program at the Atlanta Legal Aid Society who represents the Jordans.
Direct liability limits have clear, strong effects on medical spending, the study concludes.
However, it is worth commenting further on the less commonly raised issue of direct liability referred to under (c) above.
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Direct liabilities: Banks have nominal liabilities against each other.
In contrast to direct liabilities and cross-holdings that are described by network structures, fire sales are a global transmission mechanism.
We analyze default in a one-period interbank market model in which banks are connected to each other via three different channels: Direct liabilities: Banks have nominal liabilities against each other.
The total random losses from direct liabilities are then given by: L k)=sumlimits_{iinmathcal{N}} (1-sumlimits_{jinmathcal{N}}Pi_{ij} cdot (p_{i}^ k -bar{p}_{i}).
The amendment, she said, would protect most employers from direct legal liability but would still expose them to higher costs.
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CEO of Professional Science Editing for Scientists @ prosciediting.com